Microfinance Solution

A typical microfinance delivery architecture is shown in the figure below. Innoviti provides solutions for various elements of this architecture. The front-end delivery of services can be carried out through biometric handheld wireless terminals, such as the Vx610-trueid or MagIC3M-trueID. These terminals deliver typical lending products to end customers who are typically given smart cards for management of their identity and accounts. Customer verification is done through fingerprints and once validated the customer can access the account and carry out transactions. Innoviti provides the uniPAY Soft Switch for processing of transactions and the uniPAY host for management of customer accounts. The system may also connect into the bank host for account management. Customer identity verification can be done locally through the customer smart-card or remotely through Innoviti's biometric security module (BSM). The solutions can be used in an end-to-end manner or as individual elements with existing banking systems for delivery of the services.

Benefits

• Strong KYC using fingerprints, prevents de-duplication and fraud
• Handheld biometric terminal can be used to cost-effective deliver services in rural areas
• Wireless connectivity allows only transaction processing with the uniPAY host
• Integrated soft switch and account management system for end-to-end processing